Dubai-based logistics company Aramex has announced its financial results for the first quarter of 2015, reporting a net profit increase of 10 per cent to AED 86.6 million (€21.96 million), up from AED 78.7 million (€19.96 million) in Q1 2014.
According to Aramex, revenues in the first quarter of 2015 increased to AED 930 million (€235 million), up nine per cent compared to AED 852 million (€215 million) in Q1 2014.
Aramex’s performance was reportedly driven by growth across all its geographies, with the GCC remaining the largest contributor to revenues. International express performed well, supported by the continued expansion of the company’s e-commerce platform across key growth markets.
Domestic Express also saw an increase due in part to the company’s recent acquisitions in both Australia and South Africa.
Commenting on the results, Hussein Hachem, Aramex CEO, said: “Although we witnessed slower growth at the beginning of the quarter we finished Q1 strongly despite challenges brought about by low oil prices and weak global currencies. While the volatility in global currencies impacted our revenues, a strong US dollar presents us with opportunities for acquisitions.”
“As such, we are confident about extending our growth momentum and performance into the remainder of 2015. Our traction is driven by innovation, investments in future growth and a company-wide focus on improved operational efficiencies through strategic investments in digital transformational technologies aimed at enhancing customer experience.”